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You take the FMV of the property at the time of the decedent's death. So if your uncle died in 2009 and the FMV was $800,000, and the FMV is only $600,000 this year, you will use the $800,000 because that is how much it was worth the year that he died. I apologize if I was not clear in my previous answer.

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. OrvilleHesperia, California

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